North Cheam - 18/18A Cheam Common Road, Surrey KT4 8RWFreehold Shop and Residential Investment

North Cheam - 18/18A Cheam Common Road, Surrey KT4 8RWFreehold Shop and Residential Investment

Investment Consideration:

Purchase Price: £300,000 Gross Initial Yield: 3.67% Rental Income: £11,000 p.a. VAT is NOT applicable to this property Comprising a shop and a self-contained flat Entirely let on a lease expiring in 2024 Tenant break option 23.07.2019 (not exercised) Potential to extend to the rear, subject to obtaining consents Well positioned close to Post Office/WHSmith, Costa & Greggs

Tenancies and Accommodation:

Property Ac c ommodation Lessee & Trade Term Current Rent £ p .a. Notes

No. 18/18A(Ground & First Floor)

Ground Floor Shop (Not in Occupation) 44.45 sq m (478 sq ft)

First Floor Flat - 2 Rooms, Kitchen, Bathroom/WC 38.00 sq m (409 sq ft)

A Furness 10 years from23 July 2014

£11,000 (*) Note 1: FRINote 2: Tenant break option 23.07.2019 (not exercised)Note 3: Rent Review in the fifth yearNote 4: Rent Review 2019 Outstanding (*) Note 5: Reversion 2024

* W e are ad v ised b y t h e ven d o r t h at t h ey h ave served n o t ic e at £ 1 8 , 0 0 0 p . a. an d t h e t en an t Total £11,000

h as resp o n d ed q u o t in g a ren t o f £ 1 3 , 0 0 0 p . a. su b j ec t t o c o n t rac t an d w it h o u t p rej u d ic e.

Property Description:The property comprises a ground floor shop with first floor residential flat. There may be potential to extend the property at the rear, subject to obtaining all the necessary consents. All enquiries should be referred to Sutton Council, Website Address: www.sutton.gov.uk.

The property provides the following accommodation and dimensions:

Ground Floor Shop (Not in Occupation) 44.45 sq m (478 sq ft)

First Floor Flat - 2 Rooms, Kitchen, Bathroom/WC 38.00 sq m (409 sq ft)

Tenancy:The entire property is at present let to A Furness for a term of 10 years from 23rd July 2014 at a current rent of £11,000 per annum and the lease contains full repairing and insuring covenants. Rent Review in the fifth year and the review for 2019 is outstanding. Tenant break option on 23rd July 2019 was not exercised. We are advised by the vendor that they have served notice at £18,000 p.a. and the tenant has responded quoting a rent of £13,000 p.a. subject to contract and without prejudice.

Location:North Cheam is a popular commuter suburb within the London Borough of Sutton, some 10 miles south west of Central London. The area benefits from excellent road communications being on the A24 which runs from Central London to the M25 Motorway, some 7 miles to the south. The property is situated within an established parade of shops, on the north side of Cheam Common Road (A2043) close to its junction with London Road (A24). Occupiers close by include Post Office/WHSmith, Coral, Costa, Greggs and Londis amongst many others.

North Cheam - 18/18A Cheam Common Road, Surrey KT4 8RWFreehold Shop and Residential Investment

Contacts:

To view copies of the leases, information on the title, other information, please contact Joseph Bachman or Prash Jaitley.

Disclaimer: Blue Alpine Partners prepares sales and letting particulars diligently and all reasonable steps are taken to ensure that they are correct. Neither a seller nor a landlord nor Blue Alpine Partners will, however, be under any liability to any purchaser or tenant or prospective purchaser or tenant in respect of them. If a property is unoccupied, Blue Alpine Partners may not have all the information required by a prospective purchaser or tenant in its possession, may not be able to obtain it and may not be able to verify all the information which it does hold. Prospective purchasers should make their own investigations before finalising any agreement to purchase or lease.

Prash Jaitley – Managing Partner M: +44(0)79618 53166E: prash@bluealpine.com

Joseph Bachman – COOM: +44(0)77236 19270 E: joseph@bluealpine.com

Address:

Blue Alpine Partners LimitedTrading Address: 83c Ashley Gardens, Thirleby Road, London, SW1P 1HGRegistered Address: Suite 115, Devonshire House, Manor Way, Borehamwood, Hertfordshire, WD6 1QQ

North Cheam - 18/18A Cheam Common Road, Surrey KT4 8RWFreehold Shop and Residential Investment